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Use the information below to answer the requirements. Accounts payable Cost of goods sold Current Year $ 1,200 43,810 Prior Year $ 1,500 65,710

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Use the information below to answer the requirements. Accounts payable Cost of goods sold Current Year $ 1,200 43,810 Prior Year $ 1,500 65,710 1. Compute days' payable outstanding for the current year. 2. Compute days' payable outstanding for the prior year. 3. Did the company take longer to pay its creditors in the current year? (For all requirements, round the answers to the nearest whole day and use 365 days in a year.) 1. Days' payable outstanding for the current year 2. Days' payable outstanding for the prior year 3. Did the company take longer to pay its creditors in the current year? days days

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